3106 Independence St Metairie, LA 70006
Property Lookup
Property profile & analytics
3106 Independence St Metairie, LA 70006
- Apartment buildings
- 0.17 lot acres
Property ID
US36-0338630
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Jae Smooth the Barber / Barber Shop
Property Details for 3106 Independence St
- Lot size
- 0.17 lot acres
- Property type
- Apartment buildings
- APN
- 0-82-0036320
- APU
- 820036320
Description
This exceptional 12-unit apartment complex, situated at 3106 Independence St, Metairie, LA 70006, presents a compelling value-add investment opportunity. The property boasts 7,880 square feet across two, two-story buildings, renovated in 2023. Currently operating at 90% occupancy, the property generates a Net Operating Income (NOI) of $107,460, representing a 10.23% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $178,900 and a 17.04% cap rate, reflecting the potential for substantial rental income growth. This potential stems from current rents being 20-30% below market rates, allowing for strategic increases without extensive renovations. The property's prime location, just off Veterans Boulevard—Louisiana's busiest thoroughfare—and near the revitalized Clearview Mall corridor, further enhances its value and appeal. Ample off-street parking adds to the property's desirability. The asking price is $1,050,000, or $87,500 per unit, and the property is classified as a Class B multifamily investment. This complex offers a blend of immediate income and significant upside potential, making it an attractive addition to any real estate portfolio. The property is conveniently located in Jefferson Parish.
Value Estimations
based on Realmo’s proprietary methodology
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Metairie
- County
- Jefferson
- State
- Louisiana
- Longitude
- -90.1787
- Latitude
- 30.0031
- CBSA code
- 35380
- CBSA name
- NEW ORLEANS-METAIRIE-KENNER, LA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$3,403
$6,930
$18,940
$25,870
-
$69,300
$189,400
$258,700
